We are moving forward with our Ripple price predictions. Recent events confirm our previous thoughts and exactly a week has passed, which means time for a new XRP price prediction. Let’s start!
Ripple price continues to move upward. Over the past week, the coin added about 20% of its value, rising from $0.28 to $0.33 ( Check our XRP / USD live Price ). There are plenty of reasons for this movement:
- Bitcoin shows new highs in 2020, but most importantly, its dominance doesn’t grow and doesn’t suppress the potential of altcoins.
- The main altcoins broke the downtrend and crossed the neckline.
- Two new large partnerships fueled the Ripple rocket with jet fuel.
We suggest starting or analysis with the main one — the technical indicator of the coin.
XRP price prediction becomes easier to do when looking at the technical component of the coin. Not much has changed compared to last week. Let’s look at the readings of Oscillators and Moving Averages in three scales:
- Within one day, technical indicates the need to Buy and do it urgently. Absolutely all moving averages are in the buy zone, and key oscillators (like Momentum 0.06250 and MACD level 0.02242), too. Looking ahead, we would join their advice.
- On the scale of one week, the situation is changing somewhat. Almost all moving averages still recommend buying, but the oscillators are in a neutral position. Momentum (0.09951) recommends selling.
- A completely different picture develops when assessing monthly indicators. Oscillators put up for Sell, and moving averages were divided with a slight margin of Buy. Don’t be surprised at these indicators because a month ago the price dropped to $0.22.
We chew this information and move on to the most interesting — XRP price predictions from experts.
Fortune telling or analytics?
The Ripple price prediction market is now hosting a real green festival! Only the lazy don’t do their analysis, in which they predict incredible growth. Although followers of the fall can be found. Let’s, according to tradition, consider the most interesting ideas.
Positive XRP price predictions
The first in our list is the user with the nickname ProjectSyndicate. His Ripple price prediction is quite interesting. The analyst sees 2 possible scenarios:
- In the first case, the trader presented a 5 wave sequence in the chart. Now wave 3 is ending at $0.33. A fall should follow, this moment should be used for purchases in the region of the $0.29 mark. Then there will be a bullish run to the level of $0.35 — it’s + 25% profit. At this point, it’s worth selling, because a 30% correction is expected next.
- The second option looks even more interesting. The author builds the reverse bullish Head and Shoulders setup. In this case, we should expect a correction to the level of $0.24 for a set of positions and then a long bull run by + 50%.
The following XRP price prediction belongs to the user iqof175. In the analysis, he relies on 4H candles. He notes a small Sell, with a Bitcoin mini-dump, but the price was kept above $0.30 and returned to $0.31, which is on the channel. If the new 4H candle is closed above the box, Ripple will receive a new boost for growth.
The last positive XRP price prediction for today belongs to Husain_Zabir. The analyst notes an important consolidation above the $0.3 marks and a slight pullback in price. He calls the current levels a good springboard for long positions because in the coming days we can expect an increase in prices to around $0.38.
Negative XRP price predictions
Trading_Alchemist again gets into our Ripple price prediction with his vision of the situation. He expects that in the near future the price will return to the support line at the level of $0.305. Before that, it will drop to $0.28.
An interesting XRP price prediction came from ridethepig. The analyst believes that current levels are a good mark for buyers to take profits. And many will seize this chance. The user expects consolidation and gradual cooling after a sharp bull run. He doesn’t believe that the price will drop significantly below $0.3, because this is a good mark to buy, but there will be a decrease.
The news background is awesome
The main fuel for Ripple all week was the news of new partnerships. First, RippleNet was joined by Intermex, the largest remittance company in Latin America. The next announced partnership was with the National Bank of Egypt and the news did send the price of the coin up. Within a few hours, Ripple rose in price by $0.04 — from $0.28 to $0.32. The highest point was fixed at around $0.33.
There was also negative news, which possibly restrained the price increase. A glitch occurred on the Bitmex exchange and Ripple price fell to $0.14. The error was quickly eliminated but many traders lost numerous assets. The news can be classified as negative, because although Ripple itself is not to blame for anything, it was its community who received the damage.
What to expect next?
The final point of Ripple price prediction is our opinion:
- We are inclined to the idea of growth, the coin managed to break the downward trend line and gain a foothold above the critical level of $0.3.
- Now the key level is $0.315. If Ripple doesn’t fall below this mark, we can expect a resistance test at $0.34.
- If it can be overcome, the next global goal will be the mark of $0.45.
- The continued increase in the price of the BTC plays into the hands of XRP and serves as a kind of protection against negative news.
Current market events provide good prospects for rising Ripple prices. If the price rolls back, it’s unlikely that it will get below $0.28. But if this happens — this level can be considered an excellent option for opening a long position.